Free Market Evaluation - Send us your resume and we will give you free feedback
Record-Setting Settlement for Gulf of Mexico Oil Spill
Record-Setting Settlement for Gulf of Mexico Oil Spill
Beck’s Beer Loses False Advertising Suit, Beer Actually Brewed in the U.S.
Beck’s Beer Loses False Advertising Suit, Beer Actually Brewed in th...
General Electric to Sell Most of Its Fleet-Financing Business
General Electric to Sell Most of Its Fleet-Financing Business
Whole Foods Prepackaged Products Overpriced
Whole Foods Prepackaged Products Overpriced
Legal Job Listings
Download PDF

Compensation for Jamie Dimon Reduced by JPMorgan Chase & Co Board of Directors View Count: 50

The annual bonus for Jamie Dimon has been cut in half by JPMorgan Chase & Co’s board of directors, who cited the company’s $6.2 billion “London Whale” trading loss, according to Reuters.

“As chief executive officer, Mr. Dimon bears ultimate responsibility for the failures that led to the losses in the Chief Investment Office,” the bank said in a filing on Wednesday with the Securities and Exchange Commission.

In 2012, Dimon made $11.5 million, according to the filing from the company. His compensation consisted of $1.5 million and a bonus of $10 million. Dimon received $23 million in 2011, with $21.5 million of it a bonus.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Dimon said that he respects the decision of the board.

Dimon told analysts during a conference call that the company is planning to reduce its share buybacks in 2013 in order to increase capital so the company can meet international standards by the end of 2013.

“We continued to see favorable credit conditions across our wholesale loan portfolios and strong credit performance in our credit card portfolio,” Dimon said in a statement.

Glenn Schorr, an analyst with Nomura, said, “All in, we think it’s a good quarter for JPM, and underscores their solid earnings power. Solid earnings progression, capital build & return and reasonable valuation should make ’13 another good year in the stock.”

Compensation for Jamie Dimon Reduced by JPMorgan Chase & Co Board of Directors by

Tagged: , ,

Posted by on January 16, 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Accountant for Law Firm
USA-FL-Pensacola
Cutting-edge law firm seeks experienced Staff Accountant to join their team! This position offers job security, flexibility, work-life balance, and competitive salary. Candidates should have 7 to 1...


Apply now

Related Posts: